Paris – Allen & Overy advised Gulf Islamic Investments (GII) on the acquisition and financing of the Altaïs tower, a fully restructured office building located in Montreuil (eastern Paris). This transaction marks GII’s first acquisition in France and the firm’s largest-ever real estate acquisition to date. The property was sold by an international consortium including Arpent Capital, Maple Knoll Capital and Oaktree, for an amount of approximately EUR 250 millions.
Altaïs Towers exemplifies the highest levels of energy and environmental performance securing the Haute Qualité Environnementale (HQE) certification with a rating of “Exceptional” and the Leadership in Energy and Environmental Design (LEED) Gold certification, among others.
Strategically located in the eastern Parisian suburb of Montreuil, Altaïs Towers comprises two buildings totalling 37,500 sq m in lettable area and is currently leased to a prestigious tenant roster including Air France’s commercial Head Office for domestic operations and various government tenants.
GII has appointed L’Etoile Properties as local property manager through its global real estate team.
The Allen & Overy team was led in Paris by real estate partner Xavier Jancène and banking partner Caroline Delavet. They were supported by associates Alix Pallier, Corentin Dolivet and Arnaud Terren.
